K-pop agency Cube to invest in NFT and metaverse

K-pop agency Cube to invest in NFT and metaverse

BUSINESS/ENTERTAINMENT | Dec 2, 2021 | WOZINGA NEWS

K-pop agency Cube to invest in NFT and metaverse

  • Cube Entertainment, which oversees famous artists and bands such as Jo Kwon, BTOB, PENTAGON, CLC, and (G)I-DLE, is one of the latest K-pop talent agencies to pledge to join the NFT and metaverse race.

By Elah Mae Ariate Wozinga Staff

K-pop fans may soon have more official stuff to buy, as South Korea’s entertainment sector embraces non-fungible tokens (NFTs) and the metaverse. With prominent industry figures willing to invest in the new technology.

Cube to invest in NFTs and Metaverse

Cube Entertainment, which oversees famous artists and bands such as Jo Kwon, BTOB, PENTAGON, CLC, and (G)I-DLE, is one of the latest K-pop talent agencies to pledge to join the NFT and metaverse race.

In November, the Kosdaq-listed company formed a joint venture with Animoca Brands to establish a music metaverse and issue NFTs.

In an interview with Forkast.News, Cube CEO Ahn Woo-Hyung stated that the sky is the limit when it comes to investing in innovative technology.

“We truly don’t have an upper limit on investment,” Ahn explained. “There is no upper limit to Cube funding since we have that sense of purpose that Cube artists and members should have a role in producing new experience and new value in this industry.”

New space for music creation

Since last year, the company has developed a special team to explore NFTs and, later, the metaverse, and it is “continue to put a lot of effort into it,” according to Ahn.

“What I can tell you is that music will be at the core, and the artists’ photos and videos will be used in fresh and unique approaches that are exciting and imaginative,” Ahn stated of the next projects.

“This might be a huge momentum not only for our firm but also for the entire entertainment industry,” Ahn said.

Cube is not the only talent agency that sees NFTs and the metaverse as the next big thing. JYP, a top K-pop entertainment agency that oversees popular idol groups such as TWICE and 2PM, teamed with Dunamu, a blockchain business that operates crypto exchange Upbit, in July to establish an NFT platform employing JYP’s content.

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